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If expertise equals power, what does data equal? Influence. And that is what you want when interacting with your board of directors the potential to influence how you are perceived as a leader, and how your firm is perceived as an enterprise. And you handle your influence on your board, by delivering the right information at the appropriate time in the proper format. Of co... How to improve your influence and successfully handle your board of directorsso it does not handle you If information equals power, what does information equal? Influence. And thats what you want when interacting with your board of directors the ability to influence how you are perceived as a leader, and how your firm is perceived as an enterprise. And you handle your influence on your board, by supplying the proper information at the appropriate time in the correct format. Of course, youve got to be honest and up front with your directors and clearly portray the state of your business. But no one has the time or the consideration span to tolerate vagueness or fluff in board reporting. To compare more, consider looking at family business. Clear board reporting helps keep the business on track and the board confident and aligned with your ambitions. Heres what you want to report to your board of directors. Add whatever you and your executive group find suitable to the list beneath. Note that each and every departmental update will require a single to two pages in the board pack. All Departments For each and every division, you need to have to speak about the targets accomplished last month, ambitions not accomplished final month and why, and the targets to be achieved this month. Now Ill stroll you by way of the specifics on what you want to be capable to address for each of your departments. Sales/Company Development Offers closed and terms of each deal. Specifics for ideal client/companion in every client/partnership category. Sales techniques employed. Why bargains had been lost Did the sale go to a competitor? Which a single? What was their proposition and why was it better than yours? Was the sale lost because a new decisionmaker joined the fray? Why did not you know about this in advance? Consumer Service Quantity of inquiries responded to for the month, percentage breakdown of consumers vs. prospects. Common time to resolution on each customer inquiry. Percentage of buyers who have contacted customer service repeatedly and how often. Plans for self-serve and/or live-particular person buyer service. Engineering Technology used, integration problems, knowledge required to employ and improve it. Technologys stability, scalability, and extensibility prospective. Testing strategy, hosting method, and strengths and weaknesses of vendor. Release schedule and crucial characteristics per release. Advertising Leads getting pursued, and the amount of time it requires a lead to turn into a prospective customer. Consumer acquisition, retention, and up-selling techniques. Current and upcoming crucial marketing activities, such as mailings, conferences, trade shows, and press coverage. Item management issues, if any. Do hold in mind that separating advertising communications from item management problems assists clarify reporting a fantastic deal. Remember that marketing has three silos sales help lead generation and qualification, advertising communication PR and collateral, and product management. Upcoming Internet-website revisions and high-level specifics. Finance Stock alternatives to be approved for issuance. Head count permanent and temporary nowadays and projected for quarter. Burn rate nowadays and more than next three quarters. Any present or potential employee concerns. Balance sheet, PL, statement of cash flows. Even if you do not have a board of directors or advisers, you want to get updates on every single item listed above to accurately track your organization and to hold your department heads accountable. These updates keep everybody focused on outcomes, support foster accountability, and, last but not least, help the CEO and department heads obviously report progress. Extra board-associated advantages contain elevated trust, improved ability to affect board voting, and elevated influence overall..Continuity FBC 100 Cummings Center, Suite 405 D Beverly, MA USA 01915 1 617 500 3110